Powell: He will not leave the Federal Reserve or serve as interim chairman until the Justice Department concludes its investigation.

PANews reported on March 19th that Federal Reserve Chairman Jerome Powell stated on Wednesday that he will continue to serve as Fed Chairman if his successor is not confirmed by May, when his current term as chairman will end. Powell stated, "If my successor is not confirmed before the end of my term as chairman, then I will temporarily serve as interim chairman until a successor is identified. This is required by law. We have done this many times, and I have been involved in it. In such cases, we will continue to take this action." Regarding his term on the Board of Governors, Powell stated that he has no intention of leaving the Board until the investigation is "completely concluded." At the same time, he indicated that he has not yet made a decision on whether to remain on the Board after the Justice Department's investigation concludes. He stated that he will do the best for the Federal Reserve and the people it serves.